Diagonals
XLM levels of support/resistanceI could turn into a buyer at the bottom of this channel, as it's just ranging now
NEO lines of support/resistanceLet's see if NEO can get back up into the channel. If it does it may be showing strong support and could be a good buy.
ADA multiple diagonal overhead resistanceADA multiple diagonal overhead resistance. Noticed a lot of other traders bullish on ADA, but the diagonals are giving an alternate prediction. Similar call on USD
XLMUSD points of support/resistanceXLMUSD points of support/resistance. Doesn't look good at the moment -- headed to 0.07.
XRP - detailed elliot wave count (5/14 - 6/19) and projectionsKRAKEN:XRPUSD
Let's look at this potential elliot wave count, beginning 5/14/19 thru today 6/1/19. Note the RSI bearishly diverging, setting up sizable corrections. These are some of the signals that catch my eye, prompting me to enter high probability short positions, with tight stop losses.
My projected targets:
This is NOT financial advice!
MY KEYS FOR SUCCESS:
Look to trend lines for support and resistance and WAIT FOR CONFIRMATION.
When I review a chart, I start on higher time frames, and work my way down to the 5 min chart. It's VERY IMPORTANT to keep the bigger picture in mind. Always.
Diagonals have proven to be very reliable signals for me.
ALWAYS have a stop loss planned out, and manage your positions! Personally, I've found success starting with 1/2% to 1% stop loss with AT LEAST a 2:1 win ratio.
When in an active trade, I will look for waves and patterns to adjust my stop loss to PROTECT MY PROFITS.
Once in a trade, I NEVER increase my stop loss beyond 1%. When (not if) I enter a bad position, I'd rather lose 1% and re-enter in a better position than increase my loss potential.
Although I play both, short positions appeal more to me than longs. I am bullish long term.
Like, leave your feedback, and good luck trading!
Bitcoin Triangle formation for possible bearish trend correctionAfter initial strong bearish relief and the countering rally of the bulls, the market has been floating in a significant range also forming a symmetrical triangle.
Due to huge resistance and possible gaps in the still overall bullish trendline on 4h. A strong break and close below triangle walls could indicate further bearish relief but strong bullish diagonal TL support is met leading to profitable RR.
The Big Short? Triple diagonal confluence sell signal at 4408I've been a bit obsessed with diagonals lately, and noticed this lining up to a rejection of BTCUSD at 4408. This would align to this fake head & shoulders breakout, which would lead to a ton of longs being filled on completion of the H&S , and then immediate liquidation of longs on a selloff.
The only target bottom confluence I'm showing is 1237 with a timeline of April 1. That seems pretty low to me, however I'm not seeing another lower level of confluence on this timeframe on the chart. I wonder if an "extinction level event" (death of Tether) along with USD stock markets tanking would drive the price pretty low (~1700), then panic selling would ensue and cause a massive selloff that would lead to "all hope lost in" BTC and result in a complete capitulation event.
All that said, I'm going to reassess the lower level charts in the future if we connect on the 4408 downturn. But remember, we are still in a major bear-market downtrend and there isn't yet "blood in the streets".
Bitcoin price forecast scenarios for the coming weeks!! We are almost to our bottom boys, and here is a bullish trading idea I am planning to trade. The price will dictate which entry is used, regardless of the entry, I picked out profit areas using previous value areas of significance that I highlighted on chart. Go ahead and hit the share icon and click "MAKE IT MINE" and play around with all my indicators and goodies. Right now keep a close eye on bitmex shorts vs. long as that is where very much of the volume is coming from these here days. Unless you have a long term trade like this- be careful of the chop. Anything above 10x gets stopped and rekt. This is simply the bullish play in my book, this is not intended to be financial advice. PM me for TG.
Namnaste'
THE BITCOIN ZEBRA BULL IS BACK! Bulls unite, for he has come.Right now the Zebra Bull is back in full play. After the last time the zebra bull appeared He smashed his entry, then smashed his way up to his third given target. Good job Zebra Bull, good job.
He is back, and there is something brewing. I have linked to the prior idea dated July 4th so you can see how well the levels in bright green from last year were respected- more than most other levels - weird ; )
Now this future Bull Scenario that the Zebra Bull speaks of is displayed in the following. There is a conservative entry, as well as a bullish entry. The targets will be hit, all within the next day, or the next few weeks. We have seen the power of the Zebra Bull before, lets see if he can really help rev up the liquidation engines on shorts. For he is in favour of the longs.
Goodluck,
Namnaste
3 hr ttm squeeze fire LONG for EOS lets goLook at the 3 hour ttm squeeze, it fired long at a pretty critical point. We look like we might be completing an IH&S but some would argue- but from what I have seen- the goofiest ones work out the best.
We are hitting a pretty low all-time low, especially for the coin that is the Ethereum kILLER. Lets see what you got EOS.
AMD - Advanced Micro DevicesTrade setup on chart.
Executed the trade for a $.37 credit.
The call spread in July is a bit of a moon shot, but the trade is setting up currently to be a 22.3% ROC by Oct if it expires worthless. I may continue to add call spreads if possible here.
USD/ZAR sell setupThis one is a beauty. It is on a wave 5 of a 5 wave. So I would expect a 3 wave correction to correct this 5 wave retracing it 50-62%.... Look for some overlapping price action to get proper entry. I see a lot of evidence for dollar retracement. The DXY can really come down from anywhere, but I am looking for ending diagonals on Uzar and Ucad for potential perfect entry on very nice sells. Should be A lot of pips if you get proper entry and hold.
EUR/JPYSee that diagonal break and the candlestick price action on the daily (consolidating right below the first low of diagonal)?.... With that daily candlestick cluster, EJ can just keep those headphones on playing the euro's favorite song by TLC.. So I creep, yeah, just keep consolidating cause no one knows which way I'll go....Except Remy, who is me btw.
EUR/JPYI posted this London close scalp a bit ago. I mentioned that EJ is at the 200 ma on monthly. It is possible I achieved immaculate entry on the start of wave 2, which would retrace probably 50-62%.. It is also possible that it is just a scalp. I already scalped it, slid to profit, got taken out, got back in. Keep in mind yen pairs don't always do exactly what Elliot tells them to. EJ is in a strong downtrend with room down on weekly TDI, but up to daily is oversold. Here's the thing.... I can count a 5 wave, and whether I draw my trend lines for an ending diagonal from wave 3 or just wave 5, both qualify. If you have watched my diagonals video you may somewhat understand what I am getting at. Thing is, it has that supply zone underneath it can extend into. It stopped itself 8 pips above the 130.00 level, sometimes they don't like to hit the even numbers so to ignore limit orders. So, no confirmation, just perfect london close twin trade scalp/let 1 ride entry, at least it was for me. But I feel like at this point, if it does make a big red candle into that zone, it will wick back up. By the fib extensions it doesn't have to be a wave 1 and going into a 2, so we may just get a pull up to around the 131.500 level.... Remember no actual confirmation yet. I doubt I will post or update much more this week if any, have more important crap to do. That purple MA is the 200 and seems to be lining up with a wave 2 retrace relative to where price is. Just thought I'd share. Peace out.
GBP/CADpfff... explaining, impossible in text. I'm gonna get my trade room going. Gcad was an easy sell entry today. I actually had a line at the exact level (to the pip) it pulled off. I am not in it, already too much GBP on portfolio. Could care less, so many charts. Bearish butterfly pattern, which Ecad also produced, but a more contracted form (I am in that). Gbp/Cad also has a bearish AB=CD triangle harmonic on the daily, so strong area. Harmonics aren't the key though. What bothers me is Gcad did not break the major high and I still think it will. I don't see full out reversal and all these cad pairs were trying to close the week at the diagonal level that Gcad did, some broke it though. I'm still in GA sell, scrapped EA buy (which I profited on). If I see Gcad do what I marked up beginning of week, I will set sell stop below and look to scalp to 1.7640, then to 1.7560 and let some run in case it wants to totally correct this move. But it still has potential to come off the level it wicked off in london and continue up to finish its business of breaking high, so if not in it, wait for consolidation and place stop below. At this point the furthest I would attempt to take it to would be to the 1.75 level. Similar to Ncad to me. Looking like an ending diagonal C wave. Just keep in mind you would think they would break the high on May 5, 2017, but it doesn't "have" to. But yeah, it looks like a sell
EUR/NZDEN produced a bullish butterfly after wicking through .618 level. Aud/Nzd also produced a harmonic. In fact, there are harmonics everywhere right now. We have NZD retail sales this afternoon. Here's the thing... AN broke a diagonal and gave me my buy setup, which is in profit, but EN did not break a diagonal no matter where I draw them from. Hard to explain. But keep in mind they are both technically in downtrends. Going up now, I will just make a quick video and go over EN and explain the patterns and you will learn something about diagonals and structure along with see my thought process on this trade if you watch it.
CAD/JPY buyPrice action, pattern creating nice divergence. I would look to those fib levels for shorter term targets but would definitely want to leave some gravy train running and see where it takes me. My weekly outlook will go over these CAD pairs
GBP/USD sellWho got that GU sell I was talking about? Gave a couple setups.... As of now I would be looking to take it to red trend line. Those Ray lines are the potential targets longer term, but the pattern it makes on the way down would help tell us what to do with it.
Eur/Cad sellHere is another late markup after the fact because I couldn't post. My trade group got this entry. This was about scalping to high (that ray line) and then letting some run because this could have some real nice downside potential. But entries are important. I saw a sell setup.. I took it. It hasn't "Confirmed" down trend in place but just looks like an ending diagonal to me. 50% retrace from high would take it right back to the first low and wick it made in this diagonal. Talked about this one in the video I did today. Just giving you a heads up, may want to be looking for sell entries into next week...
